An Increase in the Number of Suppliers in a Market

question 78

Multiple Choice

An increase in the number of suppliers in a market results in a

• A)rightward shift in the supply curve.
• B)movement up along the supply curve.
• C)leftward shift in the supply curve.
• D)Both answers A and C are correct.

---

Definitions:

Uncertainty

Uncertainty pertains to the degree of unknown aspects in situations, events, or outcomes, often quantified in risk assessments and decision-making processes.

Decision Tree Analysis

A graphical tool that helps in making decisions by mapping out different courses of action and their possible outcomes.

Decision Alternatives

Choices available to decision-makers in a given decision-making scenario.

Decision Trees

A graphical representation used for decision-making, showing various outcomes from a series of related choices, helping to weigh options and possible consequences.